August 5, 2010

NIFTY FLAG Pattern in 15 minutes chart

UPDATED CHART

  • Nifty seems to be trading in a flag pattern after the break out from 5453 area. 
  • Now it is consolidation between 5466 and 5486 making it a bullish flag pattern.
  • If the index moves below 5466 the pattern will be invalid.
  • A break out of the above trend line can give at least 40 points from the break out area

3 comments:

  1. Hi san

    are we making inverted hammer on daily chart?

    ReplyDelete
  2. @assortZ
    I will update the charts tonight. If there is anything i will mention it.

    Thank you

    ReplyDelete